COLA

Social Security Benefits Increase in 2021

October 13, 2020 • By

Approximately 70 million Americans will see a 1.3 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2021. Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).

The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are a little more expensive, so the cost-of-living adjustment (COLA) helps to offset these costs.

We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But, if you want to know your new benefit amount sooner, you can securely obtain the Social Security COLA notice online using the Message Center in your my Social Security accountYou can access this information in early December prior to the mailed notice.

If you prefer to access your COLA notice online instead of receiving the mailed notice, you can log in to your personal my Social Security account  to opt out of a mailed COLA notice and any other notices that are available online by updating your Preferences in the Message Center. You can also choose to receive a text or email alert when there is a new notice. That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 18, 2020 to receive the 2021 COLA notice online.

January 2021 marks other changes that will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2021 will be higher. The retirement earnings test exempt amount will also change in 2021.

Be the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.

You can find more information about the 2021 COLA here.

 


Tags: , ,

See Comments

About the Author

Darlynda Bogle, Assistant Deputy Commissioner

Darlynda Bogle, Assistant Deputy Commissioner

Darlynda Bogle, Assistant Deputy Commissioner

Comments

Please review our Comment Policy before leaving a comment.

  1. Mary Brown

    I tried to log in and all lower case letters were changed to upper case in SSA records. Trying to fix this ended with me getting a reset code. I went to the letter referenced wed site and there is no place for a ‘reset code’ and it didn’t work in the password. Now what?

    Reply
    • Frank Watkins

      Having same issue

      Reply
      • Sharon C Norman

        I having same problem there isn’t a reset button for password so how do you get in if it will not reset.

        Reply
        • Vonda

          Hi Sharon, thanks for using our blog. Check out our Frequently Asked Questions web page for details on how to retrieve or change your username and password. Hopefully this will help!

          Reply
  2. Pearl Williams

    Will all social security medical insurance be raised in 2021?

    Reply
  3. Lorne Spence

    I need the 2021 SSA statement to apply for a Ford Mo Co established, Wage Works Account, to get reimbursed for Medical Expenses. This Statement is used, to do this required action.

    Reply
    • Vonda

      Hi Lorne, thanks for reading our blog and for your question. We mailed the COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. You can also securely view and save the Social Security COLA notice online via the Message Center inside your my Social Security account . If you don’t have an account, create one today. We hope this helps!

      Reply
  4. Blanche Natalie Slowikowski

    I have not yet received a notification for my ssi increase as yet. Last week my husband already got his notification!

    Reply
    • Vonda

      Hi Blanche, thanks for reading our blog and for your question. We mailed the COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. You can also securely view and save the Social Security COLA notice online via the Message Center inside your my Social Security account . If you don’t have an account, create one today.

      If you need to change your address with us, check out our Frequently Asked Questions web page for details.

      Reply
  5. Veronica Pasquale

    This is the third year I have not received an increase in the dollar amount for SSA. The monthly benefit increases a little but then they increase the medicare medical insurance which eats up the increase. Three years at the same dollar amount after deductions! What gives?!?

    Reply
    • Vonda

      Hi Veronia, thanks for using the blog. The standard Medicare Part B premium for medical insurance in 2021 is $148.50.

      Some people who collect Social Security benefits and have their Part B premiums deducted from their payment will pay less. This is because their Part B premium increased more than the cost-of-living increase for 2021 Social Security benefits. Social Security will send a letter to all people who collect Social Security benefits (and those who pay higher premiums because of their income) that states each person’s exact Part B premium amount for 2021.

      Reply
  6. Glenn Calderone

    I was setting up an account online and when completed, it said my benefits will begin on 1/2/2021. I do not want the benefits to begin until 5/2021

    Reply
    • Vonda

      For your security, Glenn, we do not have access to private information in this venue. Please call your local Social Security office. Look for the general inquiry telephone number at the Social Security Office Locator. The number may appear under Show Additional Office Information. Please be aware that our call wait times are longer than normal. We hope this information helps.

      Reply
  7. Glenn Calderone

    I was setting up an account online and when completed it said that my benefits would begin on 1/2/2021. I do not want benefits to begin until 5/2021

    Reply
  8. Wimpernverlängerung Ausbildu

    That is the 0.33 yr i’ve no longer obtained an growth inside the dollar quantity for SSA. The month-to-month benefit increases a touch but then they growth the medicare health insurance which eats up the increase. 3 years on the same greenback amount after deductions! What offers?!?
    Wimpernverlänger Salzburr

    Reply
  9. Nancy Wallace

    I have not received my SSA for benefit amount and Medicare amount. When will they be mailed. I need it for reimbursement for Wageworks.

    Reply
    • Vonda

      Hi Nancy, thanks for reading our blog and for your question. We mailed the COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. You can also securely view and save the Social Security COLA notice online via the Message Center inside your my Social Security account . If you don’t have an account, create one today.

      If you need to change your address, check out our Frequently Asked Questions web page for details. We hope this helps!

      Reply
  10. Charles Vernard Matthews

    I have been trying to contact the Social Security Office by long distance telephone calls from overseas in Thailand. I have been in Quarantine and Lockdown since November 21, 2019. Due to my health condition (Cardiac Heart Disease), I have been advised by Health Professionals and Health Organizations that individuals with underlining health conditions such as Cardiac Heart Disease Condition, Respiratory Condition, Diabetes and Hypertension such individuals must not travel due to very high risk of Coronavirus, Covid-19 infection. Because I am not able to travel and make any contact by phone, I am asking the Social Security Administration to please stop the “Deductions” for Medical Expenses from my Social Security Payments. I have tried many times from overseas to make contact with Government Services that are close due to the Pandemic. I have been receiving $865.00 and now only $728.00, about $137.00 is being deducted for Medical expenses. I have tried to enroll back into the QMB Benefits Program under DC Medicare but since November 21, 2019 I been unable to do so. Can SSA stop the deductions and assist me with Recertification back into the QMB Benefits Program under Medicare. Thank you

    Reply

Leave a Comment

Please review our Comment Policy before leaving a comment. For your safety, please do not post Personally Identifiable Information (such as your Social Security Number, address, phone number, email address, bank account number, or birthdate) on our blog.

Your email address will not be published. Required fields are marked *